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Cable Update (GBPUSD)

  • #422,941
  • Feb 1, 2016 3:04pm Feb 1, 2016 3:04pm
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last one then that me , make of it as you will night guys
  • #422,942
  • Feb 1, 2016 4:08pm Feb 1, 2016 4:08pm
Quoting elbert3
Good evening all brit x ...???? One could look at it as a house,the house was built a long time ago and just like an old house it is now in need of refurbishment ?? 1. Do we pull the house down and rebuild , or do we go to the builder and strike a deal to refurbish it ?
As above hense the move up but lets see where the markets go now.?
  • #422,943
  • Feb 1, 2016 4:27pm Feb 1, 2016 4:27pm
Quoting elbert3
{quote} As above hense the move up but lets see where the markets go now.?
Expect a choppy Tuesday.

Then a move up.
Intraday only.
  • #422,944
  • Feb 1, 2016 5:20pm Feb 1, 2016 5:20pm
Quoting navk
{quote} Expect a choppy Tuesday. Then a move up.
NFP might cause more volatility than we think this week, as time for reckoning is coming for Fed. A cut rather than a hiking is what we need, isn't it?!
  • #422,945
  • Feb 1, 2016 10:27pm Feb 1, 2016 10:27pm
Cable needs to consolidate for a day before I am hitting the bid again. This should continue to be a rough uptrend with at least 50% corrections of each move unless someone is front running the MPC statement!

If it just continues up without consolidation, breakouts will be weak... Risk/Reward will suck.
"Don't fear a bubble until it starts to burst."
  • #422,946
  • Feb 1, 2016 10:43pm Feb 1, 2016 10:43pm
Trend reversal has happened on 29th January. Now the correction will happen over coming weeks or months. A consolidation may happen if balance between bulls & bears stay unstable.
For long term traders it will be a bull market from now. Still there will be short term sell opportunities.
We can make a profit both ways easily when we know where it is heading.
... I'm not crazy, just Paranoid ...
  • #422,947
  • Feb 1, 2016 10:45pm Feb 1, 2016 10:45pm
Retracing deep on a minor (iv) before a (v) push up.
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Elliott Wave for optimum entry, exit and risk management of trades
  • #422,948
  • Feb 1, 2016 11:00pm Feb 1, 2016 11:00pm
Quoting skyhok
Retracing deep on a minor (iv) before a (v) push up. {image}
What does it takes to make such a retrace?
Is it more bulls or bears in the market?
... I'm not crazy, just Paranoid ...
  • #422,949
  • Feb 1, 2016 11:36pm Feb 1, 2016 11:36pm
Quoting Charith
{quote} What does it takes to make such a retrace? Is it more bulls or bears in the market?
It takes a good portion of the people who bought into the move getting weak at the knees and selling out because they got scared... Why did they get scared? Because they were holding a position that stopped ticking upward with higher green numbers.

As for institutionals and big pros... They play the same way. If the market has stopped and doesn't seem to be attracting more buyers. They take profits, which drops the market back.

This retrace may be mostly completed for now, but watch out toward EU close in the morning... I would be rather surprised if we broke straight through the 1.4375 area without getting a rally setup.
"Don't fear a bubble until it starts to burst."
  • #422,950
  • Feb 1, 2016 11:36pm Feb 1, 2016 11:36pm
still similar in eu & gu ,http://www.forexfactory.com/showthre...36#post8725736
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #422,951
  • Edited 11:50pm Feb 1, 2016 11:40pm | Edited 11:50pm
Quoting Charith
{quote} What does it takes to make such a retrace? Is it more bulls or bears in the market?
It's the previous prolonged and sharp advance that bulls are TPing until more bears are joining the bulls. Typical 4th wave scenario.
Elliott Wave for optimum entry, exit and risk management of trades
  • #422,952
  • Feb 2, 2016 12:24am Feb 2, 2016 12:24am
Minor wave count looks clear, pointing to a conservative target area (base of previous minor wave iv) for resuming uptrend.
Or waiting bears in London session in waking up and join bulls?
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  • #422,953
  • Feb 2, 2016 12:38am Feb 2, 2016 12:38am
Quoting meanvel
{quote} It takes a good portion of the people who bought into the move getting weak at the knees and selling out because they got scared... Why did they get scared? Because they were holding a position that stopped ticking upward with higher green numbers. As for institutionals and big pros... They play the same way. If the market has stopped and doesn't seem to be attracting more buyers. They take profits, which drops the market back. This retrace may be mostly completed for now, but watch out toward EU close in the morning... I would be rather...
It takes more bears. When there are more bears in the market, it goes up. This is a fact, if you check statistics you can see it for yourself.

Quote
big pros... They play the same way
I doubt that. Those are the guys playing against us.
... I'm not crazy, just Paranoid ...
  • #422,954
  • Feb 2, 2016 12:41am Feb 2, 2016 12:41am
Quoting skyhok
Minor wave count looks clear, pointing to a conservative target area (base of previous minor wave iv) for resuming uptrend. Or waiting bears in London session in waking up and join bulls? {image}
Likely scenarios are a rally toward 1.4450 early EU session, then down toward 1.4325 toward morning, or just chopping up and down and drifting toward 1.4325 tomorrow morning. Please consolidate like expected tonight Cable... I want more long trades tomorrow!

I'm going to sleep! Would love to stay and play, but gotta goto the airport tomorrow.

Btw, you guys with your dizzying charts with zillions of lines... Clean it up. You don't need more information than this...
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"Don't fear a bubble until it starts to burst."
  • #422,955
  • Feb 2, 2016 12:45am Feb 2, 2016 12:45am
Quoting skyhok
{quote} It's the previous prolonged and sharp advance that bulls are TPing until more bears are joining the bulls. Typical 4th wave scenario.
I doubt that bears or bulls can control the market in such a way.
If so, why cable was failing like a rock when majority was buyers in the market.
And now when more traders are aggressively selling, cable start retrenchment.
Why is it always move in a contrarian way against majority of traders?
... I'm not crazy, just Paranoid ...
  • #422,956
  • Feb 2, 2016 12:48am Feb 2, 2016 12:48am
LoL... Institutionals don't give a damn about retail. A few large hedge funds rotating speculative Cable positions tonight will move more currency than the entire retail spot market. Institutionals need other institutional players in the interbank market to get the liquidity they need to shift position...

Quoting Charith
{quote} I doubt that. Those are the guys playing against us.
"Don't fear a bubble until it starts to burst."
  • #422,957
  • Feb 2, 2016 12:52am Feb 2, 2016 12:52am
today's outlook buys depending where London opens
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Forex, awful to watch, AWESOME to play
  • #422,958
  • Feb 2, 2016 12:58am Feb 2, 2016 12:58am
Quoting meanvel
LoL... Institutionals don't give a damn about retail. A few large hedge funds rotating speculative Cable positions tonight will move more currency than the entire retail spot market. Institutionals need other institutional players in the interbank market to get the liquidity they need to shift position... {quote}
How do you explain the drop from December to January when majority was buyers in the market.
... I'm not crazy, just Paranoid ...
  • #422,959
  • Feb 2, 2016 1:17am Feb 2, 2016 1:17am
Quoting Charith
{quote} How do you explain the drop from December to January when majority was buyers in the market.
  • #422,960
  • Feb 2, 2016 2:15am Feb 2, 2016 2:15am
Massive institutional selling. Hedge funds, money managers, etc...

What is your statistic which showed majority buyers in the market? I hope it's not a spot market statistic, the spot market is a tiny sideshow which barely moves the interbank market... But the spot market always stays syncronized with the interbank market. (Or as close as your broker can keep their internal market synced for MM brokers.)

If you can actually show me some solid statistical proof of majority buyers across institutional and retail, then the Brits central bank is actually playing currency war and trying to devalue their currency.

Quoting Charith
{quote} How do you explain the drop from December to January when majority was buyers in the market.
"Don't fear a bubble until it starts to burst."
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